Heritage Oaks Bancorp in Paso Robles, Calif., has been freed from a consent order tied to Bank Secrecy Act and anti-money-laundering compliance.
The $2 billion-asset company disclosed in a regularly filing Tuesday that the Federal Deposit Insurance Corp. and the California Department of Business Oversight had determined that its bank has made comprehensive changes by enhancing technology processes, training and personnel.
The bank is "pleased that we have satisfied the legal and regulatory requirements of the Order," Simone Lagomarsino, Heritage Oaks' president and chief executive, said in the filing. Heritage Oaks has 11 branches in California.
